ACTIVISION'S CALL OF DUTY(tm) WINS ROOKIE STUDIO OF THE YEAR, EXCELLENCE IN AUDIO HONORS AT 4th ANNUAL GAME DEVELOPERS CHOICE AWARDS

Santa Monica, CA - March 25, 2004 - Activision, Inc. (Nasdaq: ATVI) announced today that its best-selling game, Call of Duty(tm) and developer Infinity Ward have received the Rookie Studio of the Year and Excellence in Audio honors at the 4th annual Game Developers Choice (GDC) Awards, Wednesday night at the Civic Auditorium in San Jose, Calif. Presented by the International Game Developers Association (IGDA) and held during the annual Game Developers Conference, the GDC Awards are the premier accolades for peer-recognition in game development.

"We're proud of the recognition Call of Duty has received from our peers within the industry when compared to all of the great games released in 2003, and thank everyone for their support," said Grant Collier, president, Infinity Ward. "From the beginning, we set out to develop the best game possible with Call of Duty. We see this award as a testament to the continued hard work by everyone at Infinity Ward and Activision."

Call of Duty has been awarded more than 50 Editors' Choice Awards and 70 Game of the Year Awards worldwide since its October, 2003 release. Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $864 million for the fiscal year ended March 31, 2003.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia, Scandinavia and the Netherlands. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.

The statements made in this press release that are not historical facts are "forward-looking statements". These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. The Company cautions readers of this press release that a number of important factors could cause Activision's actual future results to differ materially from those expressed in any such forward-looking statements. Such factors include, without limitation, product delays, retail acceptance of our products, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities. These important factors and other factors that potentially could affect the Company's financial results are described in our filings with the Securities and Exchange Commission, including the Company's most recent Annual report on Form 10-K and Quarterly Report on Form 10-Q. Readers of this press release are referred to such filings. The Company may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in the Company's assumptions or otherwise. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Activision® is a registered trademark and Call of Duty is a trademark of Activision, Inc. and its affiliates. All other trademarks and trade names are the properties of their respective owners.

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